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not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest projected deficits since 2008, trying once again to repeal obama care. they voted for the 37th time to repeal obama care despite the fact that there is good reason to believe that obama care is to credit for much of the remarkable deficit reduction projected this week by the cbo. the deficit reduction republicans used to hold up as their entire reason for being. because the biggest driver of our long-term deficits is rising health care costs and -- get thi
not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report...
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deficit hogs. after so many complaints that president obama is leading us down this dark well of never ending debt, a well that george w. push dug, the debt is stranging faster than anybody expected. the shortfall projection is 25% lower than they said it will be a few months ago and it's supposed to keep on dropping. by 2015 the deficit should total 2% over the total gross domestic product. and when president bush held office it was just over 10%. it deflates under democrats. grew under bush, dropped under clinton, grew under bush. how weather is the reaction to this? john boehner said nothing. and others say it's a report of out of scroll spending even though it's the opposite. and the g.o.p. will get together to vote to repeal obama-care for the 37th time. let's go to pat in world world news. >> thank you for having me. >> john: we did work with this president. we did help to bring the deficit down together, our policies are working. have you heard any reaction from "b" this? has this humbled an
deficit hogs. after so many complaints that president obama is leading us down this dark well of never ending debt, a well that george w. push dug, the debt is stranging faster than anybody expected. the shortfall projection is 25% lower than they said it will be a few months ago and it's supposed to keep on dropping. by 2015 the deficit should total 2% over the total gross domestic product. and when president bush held office it was just over 10%. it deflates under democrats. grew under bush,...
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paul ryan was the deficit guy in the deficit argument. the deficit was too big. one of their main arguments against re-electing president obama. we just received the new estimate of what the deficit will be by the end of the year. this is what the deficit had been up through last year, so 2009, that's president obama's first year, 2011, 2012, show the next year. this is what they had projected the deficit would be by the end of this year, but now that estimate has been revised. they have revised the projected deficit for this year and as of now, this is what the new deficit -- we have that slide whistle and we never used it before, are you kidding me? the opportunity costs. as of now this is the estimate of what the new deficit will be by the end of the year. that means the deficit has shrunk by $800 billion since president obama has been in office. this is the fastest deficit reduction we have had as a country since world war ii. honestly, that's kind of terrible. it's kind of terrible to the extent we are working on this stupid deficit issue, spending less inst
paul ryan was the deficit guy in the deficit argument. the deficit was too big. one of their main arguments against re-electing president obama. we just received the new estimate of what the deficit will be by the end of the year. this is what the deficit had been up through last year, so 2009, that's president obama's first year, 2011, 2012, show the next year. this is what they had projected the deficit would be by the end of this year, but now that estimate has been revised. they have...
SFGTV2: San Francisco Government Television
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May 19, 2013
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and so the next two years, we have are facing a deficit and kate will tell us why that deficit is there, but we begin by saying that we have got $123 million budget deficit for next fiscal year, but the second year is a little larger, about $256 million budget deficit and put it in context. as past parents of this great city, we used to have hundreds hundreds of more deficits that have to deal with when the economy was bad. now it's recovering. and i have to thank the public, the business groups, the non-profits and everybody that has been sacrificing to help us balance this budget. because it's their sacrifices that got us through these very hard years. so it sounds like 123 and 256 are not great numbers. they are still serious deficits, but i think we have a spirit, where the parents, the legislative body and the executive branch are working closely together to make that gap closer. we have that, and i want to say, the principles that are guiding me in setting this budget, i want a sound economic budget. i want the residents and visitors in this city to feel that they have a safe city
and so the next two years, we have are facing a deficit and kate will tell us why that deficit is there, but we begin by saying that we have got $123 million budget deficit for next fiscal year, but the second year is a little larger, about $256 million budget deficit and put it in context. as past parents of this great city, we used to have hundreds hundreds of more deficits that have to deal with when the economy was bad. now it's recovering. and i have to thank the public, the business...
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May 18, 2013
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we reduce the deficits. >> spending is out of control. >> the tremendous deficits. >> debts out of control. it is kicking the can down the road an frankly we're out of road. >> really? the best part of this story is how progressive policies took the air out of the deficit. that's been going since george w. bush took office. now republican cuts from sequestration and the fiscal cliff deal did not reduce the deficit. they weren't even part of the calculations. here's what did help slink the deficits. tax heights on the wealthy americans an obama care. joining us with the rapid response are my guests. great to have you all with us. mike, why aren't the republicans talking about the deficit anymore? >> well it's bad news. look this is terrible news, ed. the only way to analyze the deficit to look at the ratio. u's called the gdp to debt ratio. obama came in with the 10% to debt to gdp ratio. he has it down to 4%. they sate's going to down to 2%. those are not great talking points for republicans. >> david does the massive deficit debt reduction hurt job growth. >> we would be much better off i
we reduce the deficits. >> spending is out of control. >> the tremendous deficits. >> debts out of control. it is kicking the can down the road an frankly we're out of road. >> really? the best part of this story is how progressive policies took the air out of the deficit. that's been going since george w. bush took office. now republican cuts from sequestration and the fiscal cliff deal did not reduce the deficit. they weren't even part of the calculations. here's what...
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austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >> thank you very much. my pleasure, good luck to you and congratulations. >> thanks again to democratic house leader nancy pelosi for joining me earlier today. that's all in for this evening the rachel maddow show starts now.
austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >>...
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and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask the author of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmidt. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned. >>> first, here is my take. conservatives are, of course, mad at barack obama. we'll talk about the various scandals in a moment, but they're also mad at a country that isn't mad enough at him. this frustration is now taking over mainstream and intelligent voices within the conservative movement and about broader issues than benghazi. brett stevens, the columnist for "wall street journal" laments that president obama is not paying a price for a foreign policy that he, stevens, describes as isolationist. now, isolationism will come as a surprise to the diplomat soldier
and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask the author of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmidt. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned....
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did the deficit is falling dramatically. are we done? are we finish with deficit- reduction? with long-termmb deficit reduction. this is where there have been a lot of confusion. >> where is the pressure for it? does president obama pursue in time to reform for its own sake? >> republicans would like to work on tax reform. secondly, republicans used to agree with democrats that the sequester was a bad idea, that it was a bad idea because it made a huge disruption in a lot of important government functions including the fence. it has huge disruptions. we saw a visible manifestation with the airport situation. in my view, congress cannot deal with this on an ad hoc basis. we should deal with the overall issue. there is going to be increasing pressure to deal with the sequester. just this week secretary chuck hagel announced furloughs for the defense department. that is over 600,000 civilian dod employees who started in july -- kreuz starting in july will be furloughed. this will have a very negative affect on our military readiness. you have centers like senator mccain who have
did the deficit is falling dramatically. are we done? are we finish with deficit- reduction? with long-termmb deficit reduction. this is where there have been a lot of confusion. >> where is the pressure for it? does president obama pursue in time to reform for its own sake? >> republicans would like to work on tax reform. secondly, republicans used to agree with democrats that the sequester was a bad idea, that it was a bad idea because it made a huge disruption in a lot of...
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one, the deficit is an issue. it's not necessarily people want spending cut or revenue increase but being in favor or being made to look like you are in favor of the deficit is a political problem. >> that's why the president didn't take a victory lap on it. >> yeah. if you say the deficit is a problem and needs to be reduced, how would you do it? democrats when they talk about the budget deficit typically talk about let's think about defense spending and talk about revenues. it. >> ist seems like the democrats are chasing the wrong rabbit. i think they ought to talk about a second stimulus to get americans back to work. >> they should. spairnth the president will come up with that. his discussion in baltimore talking about jobs first of all, is the right issue for most americans. it's not any of these scandals. that's not the number 1 thing most americans are thinking about jobs. almost every day the dow or s and p sets a new record? >> almost every day. yesterday was a little bit of a pull back but only a little
one, the deficit is an issue. it's not necessarily people want spending cut or revenue increase but being in favor or being made to look like you are in favor of the deficit is a political problem. >> that's why the president didn't take a victory lap on it. >> yeah. if you say the deficit is a problem and needs to be reduced, how would you do it? democrats when they talk about the budget deficit typically talk about let's think about defense spending and talk about revenues. it....
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the deficit is coming down? >> i think it's great the deficit is coming down, government taxation melton freedman said, it's true, you can't spend yourself into prosperity. if you look at government spending as a share of gdp. it tracks growth almost exactly. having the deficit come down is wonderful news. >> all right. so if people are saying this fiscal restraint is like 1936-1937, all right, where we had a recession inside a depression. yeah, i think that's a lot of gar back. i'll tell you why, i want to hear you first. >> well, the taxes went up through the great depression. the way the world works, it outlines it exactly, all these people in the great depression have missed the tax variable totally. bernanke, even milton freedman missed it in the freedom of the united states. it's taxes that really caused the economy to slow down and cutting taxes in aggregate is cutting government spending. government doesn't create resource, larry, it redistributes them. every dollar they spend for one person, they take a
the deficit is coming down? >> i think it's great the deficit is coming down, government taxation melton freedman said, it's true, you can't spend yourself into prosperity. if you look at government spending as a share of gdp. it tracks growth almost exactly. having the deficit come down is wonderful news. >> all right. so if people are saying this fiscal restraint is like 1936-1937, all right, where we had a recession inside a depression. yeah, i think that's a lot of gar back....
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i think the chance of another down grade is remote because of the spectacular progress on the deficit. here is the interesting angle to me. it is not that obama's agenda is in at that time in tatteres is, it was months ago. i think what may has been, the things he doesn't want may get shoved down his throat, keystone pipeline and maybe another sequester n november he may have to accept sequester for 2014. >> slowly healing jobs market and plunging deficit mean there is a lot of other things, scandal things talking about in washington. if we were talking about those things, i can assure you democrats would be talking about the other two. thanks, guys. >> coming up. u 8 >>> partisanship and the inability of our elected leaders to put our prosperity ahead of politics paralyzed washington and that paralysis brought us debt debacles, sequesters, fiscal cliffs and it has gotten so bad olympia snow decided last year she could serve no more. she has a new book fighting for common ground, a memoir of her career. when i sat down with her i asked her point-blank what is wrong with these people i
i think the chance of another down grade is remote because of the spectacular progress on the deficit. here is the interesting angle to me. it is not that obama's agenda is in at that time in tatteres is, it was months ago. i think what may has been, the things he doesn't want may get shoved down his throat, keystone pipeline and maybe another sequester n november he may have to accept sequester for 2014. >> slowly healing jobs market and plunging deficit mean there is a lot of other...
SFGTV2: San Francisco Government Television
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doesn't mean we don't have a deficit. we still have a deficit in the budget. this year coming $123 million, and the second year in the budget covering 2014/15 has $256 million deficit. we are not out of woods. but these numbers are better than $500 million and $700 million budget deficits that we used to have a few years ago. our city is doing better. we are concerned about how to fulfill that deficit. but we are also concerned about what is happening to seniors, what is happening to youth. what is happening to families. our open space. our small businesses. our environment. we are all concerned about that as well. of course i must say about our housing authority as well. so we are taking on a lot of responsibility and because we are and because we are very busy doing the work we are. sometimes we need your input to steer us in the right direction for what things you think are important. so we are open to that. and we want to hear from you tonight. enough speeches. let's get on with it. may i have a couple words from supervisor avalos and farrell. >> thank you
doesn't mean we don't have a deficit. we still have a deficit in the budget. this year coming $123 million, and the second year in the budget covering 2014/15 has $256 million deficit. we are not out of woods. but these numbers are better than $500 million and $700 million budget deficits that we used to have a few years ago. our city is doing better. we are concerned about how to fulfill that deficit. but we are also concerned about what is happening to seniors, what is happening to youth....
SFGTV2: San Francisco Government Television
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the following year of 14-15, is about $256 million deficit. so, we plan for two years, but we'll meet every year just to talk through it. and then we're doing really well on our employment. we have about a 6.3 unemployment rate. so, it's gone down another big percentage point. i want to keep driving that down. my goal is to get to the 5 or even below. that means a lot more people have jobs and create their own destinies. and i need to have that happen because government can't do everything. we'll do the gaps. we'll help, of course, with our seniors, our low-income families, our children need us to provide the programs. but we have to invest really smartly these days. and i think if there's any theme that all of us are working hard on is how to properly invest as our city totally recovers. and many of you will talk to us about the proper thing that we want to invest in that have long-term economic and social benefits for all of us. but i want to thank the supervisors for being here, but most importantly, thank all of you for coming out on this
the following year of 14-15, is about $256 million deficit. so, we plan for two years, but we'll meet every year just to talk through it. and then we're doing really well on our employment. we have about a 6.3 unemployment rate. so, it's gone down another big percentage point. i want to keep driving that down. my goal is to get to the 5 or even below. that means a lot more people have jobs and create their own destinies. and i need to have that happen because government can't do everything....
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we are not going to reduce the deficit overnight. we need to reduce it eventually. the marines going more slowly to get to the right place. good night in -- that means going slowly to get to the right place. adjusted itshasn policy. they are not trying to get there overnight. tavis: you were on the obama transition team, where these economic conditions are concerned, and there are some who are becoming concerned he is becoming too soft to the notion of deficit reduction. what we need is jobs, jobs, jobs, and a living wage. give me your assessment of where you think the president is and ought to be in terms of deficit reduction. >> i think the key issue is at some point in time we have to deal with the deficit, and we have to make hard choices. i think the president has put forward and honest proposition that we have to make entitlement not change. every serious analyst agrees at some point you have to deal with entitlements. tavis: the book is written around three things. one is discipline. a third is trust. since you talk about entitlement reform, talk to me about
we are not going to reduce the deficit overnight. we need to reduce it eventually. the marines going more slowly to get to the right place. good night in -- that means going slowly to get to the right place. adjusted itshasn policy. they are not trying to get there overnight. tavis: you were on the obama transition team, where these economic conditions are concerned, and there are some who are becoming concerned he is becoming too soft to the notion of deficit reduction. what we need is jobs,...
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the history of deficit is they tend to understate it. if you forecast it up three, up three, up three, then if you jack your forecast down to minus one then you look like a total goon. what the cbo will say is up three, up three, up three, they tend to understate their revisions, what we saw yesterday was probably about half of the revision that they really would've made if they went all in and did the fully rational forecast. probably throughout the rest of the year, you're going to see bigger reductions in the deficits about three months from now. and that's going to have a good effect on markets, it's going to help the fed have some space to ease up on quantitative easing and so on. >> do you share robert's concerns about the impact of the sequester and second half of the year? >> no, i do not. we're losing about 1.5% of gdp growth. about 1% is the tax hike at the end of the year and half of that is the sequester. so far, we've overpowered that with the wealth effect and the absence of the hippopotamus, and i think that'll continue. >
the history of deficit is they tend to understate it. if you forecast it up three, up three, up three, then if you jack your forecast down to minus one then you look like a total goon. what the cbo will say is up three, up three, up three, they tend to understate their revisions, what we saw yesterday was probably about half of the revision that they really would've made if they went all in and did the fully rational forecast. probably throughout the rest of the year, you're going to see bigger...
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that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or improved economic conditions, you drastically and very quickly lower your debt position and your deficit position. that should be the first order of business. that is really what we do first before we figure out what is our true remaining structural long-term deficit. melissa: okay, but doug, you're a numbers guy. let's do thisatively, rather than with our emotions. can the economy quantitatively grow enough to deal with paying for our promises for the entitlements and the system that we have laid out? >> no. at the heart of this are p
that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or...
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regards tried to create an image running programs in we're concerned budget deficits by simply slicing public investment and continuing continuously delaying statements about its directions so in reality if if that were extended paid on time whatever money he owes we were still have a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreement and not a real improvement and on the other hand all that it all or recent decisions from that part of the greek government such as the decision to lay off tens of thousands of public servants of the that the very big wage or reduction in the private sector that will start tomorrow so there are real aspects of it a brick of the government's economic policy a policy if you're one of the recession the amity demands that greece remains to go to other policies that will simply make even worse the humanitarian disaster we are already facing and which was described in your reports just. despairs growing at america's gone time obey prison where detainees have been on
regards tried to create an image running programs in we're concerned budget deficits by simply slicing public investment and continuing continuously delaying statements about its directions so in reality if if that were extended paid on time whatever money he owes we were still have a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreement and not a real improvement and on the other hand all that it all...
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the deficit is falling dramatically. are we done? are we finished with deficit- reduction? >> we're not done with long-term deficit reduction. this is where there has been a some isconfusion. intentional in this debate. >> where is the pressure for it? does president obama pursue in -- continue to pursue entitlement reform for its own sake, without republicans saying we need to have entitlement reform? >> there are two things. republicans would like to work on tax reform. secondly, republicans used to agree with democrats that the sequester was a bad idea, that it was a bad idea because it made a huge disruption in a lot -- it created a huge disruption in a lot of important government functions, including the fence. , huge disruptions elsewhere. we saw one very visible manifestation of that with the air what situation. in my view, congress should not deal with this on an ad hoc basis, on a piecemeal basis. we should deal with the overall issue. , going tois, i think be increasing pressure to deal with the sequester. just this week, secretary habel announced furloughs for --
the deficit is falling dramatically. are we done? are we finished with deficit- reduction? >> we're not done with long-term deficit reduction. this is where there has been a some isconfusion. intentional in this debate. >> where is the pressure for it? does president obama pursue in -- continue to pursue entitlement reform for its own sake, without republicans saying we need to have entitlement reform? >> there are two things. republicans would like to work on tax reform....
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that our budget deficit is nowhere near as big or as dangerous to america as our trade deficit for decades our trade deficit has been just under a trillion dollars a year just this year as of march the u.s. trade deficit was thirty eight point eight billion dollars because we're not protecting our economy and other countries are with both tariffs and that taxes that they then reverse on export it's nearly impossible to find and buy american made goods in u.s. stores it's been two hundred plus years since george washington way to find american made suit for his inauguration and alexander hamilton told us how to become economically strong nation it worked and we led the world for nearly two centuries but in the thirty three years since reagan took power we've gone from a new factory in being over a third of our economy to it being about a tenth putting our nation back into the bondage we were once in to the british east india company we need to revisit alexander hamilton plan that made america into the most powerful manufacturing economy in the world for over two hundred years it's time to r
that our budget deficit is nowhere near as big or as dangerous to america as our trade deficit for decades our trade deficit has been just under a trillion dollars a year just this year as of march the u.s. trade deficit was thirty eight point eight billion dollars because we're not protecting our economy and other countries are with both tariffs and that taxes that they then reverse on export it's nearly impossible to find and buy american made goods in u.s. stores it's been two hundred plus...
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government has tried to create an image running programs in we're concerned budget deficits by simply slashing public investment and continually continuously delaying statements about its directions so in reality if if the greek state paid on time whatever money he owes we were still without a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreements and not a real improvement and on the other hand all that it was a recent decision from the part of the greek government such as the decision to lay off for tens of thousands of public servants of the that the very big wage reductions in the private sector that will start tomorrow so they realized pics of the brink of the government's economic policy our policy is don't want to see a recession the m.f. demands that greece remains to go to other policy that will simply made even worse this humanitarian disaster we are already facing and which ones describe your reports just. every hour at r.t. dot com more and more stories are going up on the website
government has tried to create an image running programs in we're concerned budget deficits by simply slashing public investment and continually continuously delaying statements about its directions so in reality if if the greek state paid on time whatever money he owes we were still without a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreements and not a real improvement and on the other hand all...
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budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and withhat: you're history. instead of looking behind... delta is looking beyond. 80housand of us investing billions. in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> the federal budget is a visit expected to shrink this fiscal year after four years of deficit of $1 trillion of ex
budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer...
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british government is trying to create an image running programs in budget deficits by simply slicing public investment and continuing continuously delaying statements about its directions so in reality if if the greek state paid on time whatever money he owes we were still . a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreement i'm not a real improvement on the other hand all that is all the recent decisions from the back of the greek government such as the decision to lay off for tens of thousands of public servants of the. very big wage reductions that private sector with more or so although they realize bits of the government's economic policy are full as well as the recession the i.m.f. demands that greece remains to go with it. that will simply make even worse this humanitarian disaster we are already facing and which was described . this is r.t. you can find many more stories online at r.t. dot com including maybe close your eyes dressed to impress british billionaire and a virgin bos
british government is trying to create an image running programs in budget deficits by simply slicing public investment and continuing continuously delaying statements about its directions so in reality if if the greek state paid on time whatever money he owes we were still . a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreement i'm not a real improvement on the other hand all that is all the recent...
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the"the wall street journal" deficit is shrinking, unemployment is at a five-year low. the dow jones cracks the 15,000 mark. the housing market is coming back. all of this despite sequestration. >> i was just want to say to my good friends on the right. cheer up, eventually things will get worse. $231 billion less in deficit than expected last year. that aretax collection up. you have fannie mae, the much beleaguered, chastised, reprimanded institution paying back its loans. >> $59.4 billion. >> freddie mac paying back what it goes. >> $7 billion from freddie mac. >> i read "the wall street journal" too. >> sometimes you surprise me, like three times a show. cheer up to the republicans? it is the democrats who said that a sequester would mean the end of the world. unemployment, we would reduce gdp. it andnt ahead and did it is working. i am very cheery. else can you do on this panel but laugh? the president can take credit for some of the improvement because the economy is improving. the answer is growth. this is how you get rid of the deficit, through grow. >> not thro
the"the wall street journal" deficit is shrinking, unemployment is at a five-year low. the dow jones cracks the 15,000 mark. the housing market is coming back. all of this despite sequestration. >> i was just want to say to my good friends on the right. cheer up, eventually things will get worse. $231 billion less in deficit than expected last year. that aretax collection up. you have fannie mae, the much beleaguered, chastised, reprimanded institution paying back its loans....
SFGTV2: San Francisco Government Television
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May 17, 2013
05/13
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we do have a structural budget deficit in the city. we need to determ balancing of n a way that does not decimate basic city services that people rely on but also to address our long term structural budget deficit. that means implementing budget reforms that will smooth out the budget process so that it is not a boom-bust process. that means reforming our pension and retiree system so that they are stable and do not drain the general fund. that is a big aspect of it. another huge issue is the deferred maintenance on our infrastructure. we have a lot of infrastructure that has been deteriorating because we have not maintained properly. that includes roads, sewer systems, muni. we need to be much more diligent about maintaining our infrastructure. some of the big citywide issues that impact the district include transportation. we had more muni service and some other districts. it is not always reliable. some of the major bus lines in the district are not reliable. we have major projects like the renovation of delores park. it is an oppor
we do have a structural budget deficit in the city. we need to determ balancing of n a way that does not decimate basic city services that people rely on but also to address our long term structural budget deficit. that means implementing budget reforms that will smooth out the budget process so that it is not a boom-bust process. that means reforming our pension and retiree system so that they are stable and do not drain the general fund. that is a big aspect of it. another huge issue is the...
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even as we reduce deficits. he served as the special assistant to the president for economic policies and the deputy director of the national economic council. has earned a well deserved reputation for taking a tremendous amount of economic data, synthesizing, and translated to a series of viable measures for the economic team and translated into terms that someone like i can understand. he has helped our country recover from the recession. who understands arefiscal policies intrinsically important to the prosperity of the american eople. right over his left shoulder is professorknowledge and his mom is an engineer. he has clearly in her it did is clearlys -- he inherited those smarts. before going to yale law school he's spent time doing lc with carnegie endowment, the center for global development, and the center for american progress. i think he realizes he has the brainpower to pursue whatever percussion he chooses, but he has a passion for public policy. he has specifically a passion for finding ways for ou
even as we reduce deficits. he served as the special assistant to the president for economic policies and the deputy director of the national economic council. has earned a well deserved reputation for taking a tremendous amount of economic data, synthesizing, and translated to a series of viable measures for the economic team and translated into terms that someone like i can understand. he has helped our country recover from the recession. who understands arefiscal policies intrinsically...
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May 16, 2013
05/13
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i am serious the deficit dramatically lower. next. mowing your lawn isn't alwaysasy. but maybe the problem isn't your lawn. introducing the all-wheel-drive mower from husqvar. we engineered its unique drive system and dual transmission to handle hills& thick grass& and tough terrain& without losing traction or power the all-wheel-drive mower from husqvarna. challenge e impossible. visit us online to enter the challenge the impossible protion ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we'rnot simply saluting history. we're making i are yostill sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. woman: what do you mean, meowners insurance doesn't cover floods? [ hear
i am serious the deficit dramatically lower. next. mowing your lawn isn't alwaysasy. but maybe the problem isn't your lawn. introducing the all-wheel-drive mower from husqvar. we engineered its unique drive system and dual transmission to handle hills& thick grass& and tough terrain& without losing traction or power the all-wheel-drive mower from husqvarna. challenge e impossible. visit us online to enter the challenge the impossible protion ...amelia... neil and buzz: for teaching...
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May 16, 2013
05/13
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budget deficit is declining faster than expected. the congressional budget office says the deficit is expected to shrink to $642 billion in the fiscal year ending september 30 down by more than $200 billion from the agency's estimate just three months ago. but not all is rosie. here's jill schlesinger, cbs news senior business analyst. so jill, why did the deficit projection narrow by so much? >> reporter: you know, after four years of trillion-plus dollar deficit, this year's drop is due to higher-than- expected tax receipts. now, remember, we had a big tax increase so a lot of taxpayers chose to pay taxes late in 2012 before rates went up in 2013. a little extra money for the government. okay. then we also had amazingly a $95 billion dividend payment from both fannie mae and freddie mac, so that was a good news factor. and then we also had the government spending less money $85 billion on the sequester. put it all together, we have better-than-expected news on the deficit for this fiscal year. >> well, it seems like a little progre
budget deficit is declining faster than expected. the congressional budget office says the deficit is expected to shrink to $642 billion in the fiscal year ending september 30 down by more than $200 billion from the agency's estimate just three months ago. but not all is rosie. here's jill schlesinger, cbs news senior business analyst. so jill, why did the deficit projection narrow by so much? >> reporter: you know, after four years of trillion-plus dollar deficit, this year's drop is due...
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May 15, 2013
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CNBC
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the deficits are falling. they're not $1 trillion, the cbo just revised it down, it's going to go under 3% of gdp by 2015. energy, manufacturing, auto manufacturing, real estate, all of these things are coming back. and the fiscal balance in the u.s. are improving. and we're not having crisis overseas. >> ron, the point being, if harry looks at this rally and sees it as an increasing reason to be worried because it's not built on fundamentals, your reaction is that, yes, it is. >> i think there are too many harries o out there. a whole host of others who keep looking for armageddon just adds more fuel to the bullish case, that there are very few people invested in this rally. this is one of the most hated rallies in my professional lifetime, if not in market history, where it's all been driven by professionals. pensions are underinvested, individuals are underinvested. this thing could go for quite some time. and i think the economic outlook is far rosier than harry would suggest. >> the fundamentals are getti
the deficits are falling. they're not $1 trillion, the cbo just revised it down, it's going to go under 3% of gdp by 2015. energy, manufacturing, auto manufacturing, real estate, all of these things are coming back. and the fiscal balance in the u.s. are improving. and we're not having crisis overseas. >> ron, the point being, if harry looks at this rally and sees it as an increasing reason to be worried because it's not built on fundamentals, your reaction is that, yes, it is. >> i...
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May 15, 2013
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in this fiscal year, $200 billion lower the deficit's going to be than a couple of months ago and by 2015, we'll be talking about deficits in the realm of $300 billion and in the face of this, with millions of people still unemployed, with the unemployment rates up over 7%, we're not doing more to get people back to work. and we're still focused on deficit reduction when we see that even projecting out over several years, it's even a conservative economist, no one would argue these levels of debt that we're seeing in 2015 now are not at a sustainable level. >> is there a way for the obama administration to try to steal some of the attention away from the irs, benghazi? benghazi's not as topical because of what's coming forward about the irs. >> i wish the case for the sort of deficit hawk hysteria had anything to do with facts. we just saw one of the major papers that was brought up at a rationale for his obsession for cutting the deficit and the debt. we saw that disproved. so unfortunately, this has always been about a radical agenda. today, this afternoon, house republicans are go
in this fiscal year, $200 billion lower the deficit's going to be than a couple of months ago and by 2015, we'll be talking about deficits in the realm of $300 billion and in the face of this, with millions of people still unemployed, with the unemployment rates up over 7%, we're not doing more to get people back to work. and we're still focused on deficit reduction when we see that even projecting out over several years, it's even a conservative economist, no one would argue these levels of...
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May 16, 2013
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they want to see the deficit come down. a new report shows that the deficit has shrunk by $800 billion since president obama took office. that's the fastest deficit reduction we've had since world war ii. the last one, $200 million despite all of the deficit shrinking. the gop is still refusing to roll back the automatic budget cuts, some of which dana just referred to. here's some local tv reports on how those cuts are hurting real people on the ground. look at this. >> cuts to the department of housing and urban development have left thousands of low income families struggling to get a place to live. >> getting kids like clamari in to head start is going to be more difficult. because of budget cuts, places like this are taking less kids the next school year. >> thousands of meals may be cut. the director says it comes at a time when donations are already down. >> it's real stuff, congresswoman. >> that's right. and it's really staggering. i've been out in my district where we have worker who is are facing furloughs, we ha
they want to see the deficit come down. a new report shows that the deficit has shrunk by $800 billion since president obama took office. that's the fastest deficit reduction we've had since world war ii. the last one, $200 million despite all of the deficit shrinking. the gop is still refusing to roll back the automatic budget cuts, some of which dana just referred to. here's some local tv reports on how those cuts are hurting real people on the ground. look at this. >> cuts to the...
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because in the reality what has been described as i mean rosemond in terms of budget deficits just their results or the continuing stock but payments from the part of the greek state the greek state owes in what they meant more than eight billion euros just delays being thing contracts that innocent lives are now but now a recent international monetary fund my staple i'm sort of jump in there very quickly but it but a recent i.m.f. statement demanded that greece remain devoted one hundred percent to its austerity program to tell us this can the greeks endure it. no in no way that the i.m.f. demands that greece remains to go to a policy that will simply made even worse the humanitarian disaster we are already facing in which was this break your reports just before so what happens if i thin stars begin to fail to meet the terms of its ballot well the greek government tries to meet the nominal terms of the bailout agreements interest or budget cuts or reducing the public investment or laying off or preparing for thousands of public servants and sex workers or making extremely dangerous deci
because in the reality what has been described as i mean rosemond in terms of budget deficits just their results or the continuing stock but payments from the part of the greek state the greek state owes in what they meant more than eight billion euros just delays being thing contracts that innocent lives are now but now a recent international monetary fund my staple i'm sort of jump in there very quickly but it but a recent i.m.f. statement demanded that greece remain devoted one hundred...